XRP Stumbles—But Analysts Still See A Path To $70

Analysts remained optimistic about XRP’s potential price surge, predicting that the crypto will pass the critical test and hit somewhere between $33 and $70 despite the setbacks that it is facing lately.Market observers expressed their confidence in the capability of XRP to bounce back amid the decline in its trading volume wherein investors saw a 20% drop.XRP Faces SetbacksReports said that the altcoin is currently facing some challenges to regain momentum for a bullish run as its price and trading volume went on a downward trend.As of writing, XRP is being traded at $2.33, down by 0.1% in the past 24 hours, which is higher than the $2.29 recorded on March 16.On the brighter side, XRP showed some resilience despite the current near-term pressures after posting a 9% increase in the past week.Many analysts have mixed opinions on the price movement of XRP because of these figures. However, some market observers maintained a positive outlook on the long-term of the crypto despite its near-term struggles. – Today’s Price Action AnalysisThe Blue Channel is providing a clear indication of ‘s next move.I’ve noted that the equilibrium has been established and is resting on the lower edge of the Blue Channel, making a mini bounce quite apparent In the below previous post.… Can XRP Hit $70?One of the crypto analysts who remained confident on XRP is Egrag Crypto, who made a bold prediction on a possible surge. He said that XRP is operating on a cycle that might result in huge price levels in the future.Egrag Crypto believes that XRP could potentially hit anywhere from $33 to $70 in the upcoming months, putting into consideration both its short-term volatility and long-term potential. “I’ve been closely analyzing the strength of Wave 1 across various crypto charts, and after reviewing multiple projects, I’ve noticed a compelling pattern in #XRP that could signal a potential cycle top,” the analyst explained in a post. The crypto analyst expressed confidence in the percentage formulas he used to determine XRP’s price direction, adding that he identified two main targets: Stick 2 and Stick 3, which pertain to $33 and $70. – 3rd Stick Post ($33 – $70) I’ve been closely analyzing the strength of Wave 1 across various crypto charts, and after reviewing multiple projects, I’ve noticed a compelling pattern in that could signal a potential cycle top. By applying percentage formulas, I am… “Loving the Wave 1 deep dive—XRP got that fire, right? Your cycle analysis is spot on—668% vibes from $0.50 to $3.84, then stacking it again feels spot on, doesn’t it? And those percentage formulas—$33 to $70—Stick 2 and Stick 3, spot on targets—50% and 80% discounts make total sense,” @terryki04112392 commented on Egrag’s post.Resistance Levels The crypto expert explained that XRP is currently sitting in a price channel that will influence where it will be heading, adding that the crypto’s price is near $2.83, a critical level that could project strength.The analyst said that once XRP hits that level, this might propel the cryptocurrency to move towards $4.20 in the near term but if the coin fails to have a firm grip above the current levels, it might test support levels below.According to the analyst, $2.40, which was the previous day’s high, and $2.97, which was the week’s high, are two key levels to keep an eye on.Featured image from Gemini Imagen, chart from TradingView